The Water Trust Fund (WTF) is a constitutionally protected permanent fund for the state of New Mexico, created in 2006 with an initial appropriation of $40 million and a subsequent legislative contribution of $15 million in 2007.

The WTF distributes $4 million annually to the state’s Water Trust Board, which authorizes spending these and other state funds on various water infrastructure projects around New Mexico.

The WTF will require additional capital to remain sustainable over time. Current estimates are that without an additional infusion of capital or a restructuring of its current distribution requirements, there is a 50% chance the fund will fall to $0 in the next 20 years.